My guess is CA markets are generally more diverse and heterogeneous than those other markets you have experience in (i.e. making CA more of an imperfect market).

- Define clean edges along walkways and flower beds for a polished look.Chill Tips: - Embrace imperfections – a slightly wild look can be charming and low-maintenance

Maybe have all fees paid as a priority or preferred return out of profits, that way if there is a cost reduction issue, and fees have to be reduced, you make them up as priority payment from profits, then do the splits afterwards.You need to take into account imperfect execution scenarios, or market down turn scenarios.

Sometimes the wood is pretty pitted and ugly, so the vinyl works nicely at hiding a lot of imperfections without too much extra filling, sanding, etc.

It gives it a little cushion and “feels” softer to me plus hides subfloor imperfections.

These are new ones with a couple of imperfections on them which they can't sell on the floor.

There is always at least a 3% fudge factor (+ or -) because surprises are hidden behind walls, houses are imperfect, and rehabbing crappy old houses comes with a level of unpredictability (this is after more than 2000 rehabs).If a GC is annoyed that I'm requiring specifics on the job I'm paying him to do then that's his problem and he's probably not the guy for my job, but there are no "gotchas" and i've never had it lead to any bad blood. 

With two fairly active dogs over 60 lbs, I will say it has held up like a champ, there are no scratches that I can see and still looks great overall.The subfloor has to be pretty smooth though... any imperfections underneath the floor may show through if there are any ridges or anything sticking up like a screw head popping up, which I had to fix once.

RE investors take advantage of imperfect information every single day. 

The US system is built to be awkward and imperfect with the three legs of government.